earnings
confidence high
sentiment positive
materiality 0.75
Sallie Mae Q2 GAAP EPS $1.10; originations up 6% to $651M; $2.1B loan sale yields $128M gain
SLM Corp
2023-Q2 EPS reported
$1.56
- GAAP net income $261M, $1.10 diluted EPS; net interest income $387M (+7%); NIM 5.52% (+23 bps).
- Private education loan originations $651M (+6% YoY); completed $2.1B loan sale with $128M gain.
- Repurchased 16M shares at avg $15.71 (total $257M); $326M remaining under buyback program.
- FY2023 Core EPS guidance $2.50-$2.70; originations growth 5-6%; net charge-offs $345-$385M.
- Total operating expenses $154M (up from $132M); provision for credit losses $18M (down from $31M).